Another day of drama on Wall Street. Another day without a packaged intervention plan. What should we expect for the markets and AAPL on Wednesday?

Edited to archive.

Personally, I expect more of the same as today: high expectation (and rise) that some package is agreed upon with a drop if it doesn’t happen.

hmmm.

This probably won’t help.

The FBI has begun an investigation into four major US financial institutions caught up in the current financial crisis, US media say.
Investigators are reportedly examining possible fraud by mortgage giants Fannie Mae and Freddie Mac, the failed bank Lehman Brothers and insurer AIG.
Top managers at those firms are also being investigated, the reports say.

Article can be found Here .

[quote author=“rattyuk”]hmmm.

This probably won’t help.

The FBI has begun an investigation into four major US financial institutions caught up in the current financial crisis, US media say.
Investigators are reportedly examining possible fraud by mortgage giants Fannie Mae and Freddie Mac, the failed bank Lehman Brothers and insurer AIG.
Top managers at those firms are also being investigated, the reports say.

Article can be found Here .

This could get ugly; kinda like with Enron and Stock Options

Well, along with the Buffet $5 billion infusion, I’m reading on Bloomberg that GS is getting ready to make a $2.5 billion public offfering, the first since 2000! No details “when” just yet. I would assume though, as soon as the congress passes the “tarp” plan.  Asia’s not happy about the hold up of the “tarp” either, according to news stories. But, it looks like China’s up 1.5% ATM, so what the heck!

US stock futures are flying though. S&P above 1200 on futures right now but we need a +146 on the DOW to open up over 11,000 (have +124 ATM).

Sleep tight!

[quote author=“rattyuk”]hmmm.

This probably won’t help.

The FBI has begun an investigation into four major US financial institutions caught up in the current financial crisis, US media say.
Investigators are reportedly examining possible fraud by mortgage giants Fannie Mae and Freddie Mac, the failed bank Lehman Brothers and insurer AIG.
Top managers at those firms are also being investigated, the reports say.

Article can be found Here .

Actually it might help in the long run. A few unpalatable people get their egos shrunk, more prudent managers take their place, action is taken, confidence is restored.

Anyone following Buffet here and jump into GS - may be not with $5B but with a little bit less?

Running some numbers here;

Apple is now 9:36AM at $126.90.

Back out the $22 bucks in CASH EQUIVALENTS the have in the piggy bank over in Nevada.

Take the $105 remaining and divide by the EPS that is going to come in around $6/sh and you get a PE ratio of about 17X TTM for the firm less the retained savings.

When was AAPL selling at this low a multiple? It is actually trading more like a utility now than a world class tech leader, minting cash and growing exponentially.

Weird times we live in…..

[quote author=“Plato”]Anyone following Buffet here and jump into GS - may be not with $5B but with a little bit less?

Actually, he followed me in.    If I had any cash ATM, I’d be trading this one today for sure! For now, I’m still playing a little catch-up.

[quote author=“artman1033”]
Slightly OT:

Go Twins GO!!!

Beat the mighty Whities

We’ll just see about that Grandpa…      

Go Brewers!

RIMM got just another competitor, but investors seem to be bidding the price to go up.

I need to find that quote about market irrationality, time, and personal liquidity.

[quote author=“Mayor Quimby”]Go Brewers!

Wildcard? Good luck!

Hey, aapl doing ok but that stupid story from Ben Charny on “Blame the iPhone” (see News thread, end of day yesterday), is circulating again this a.m.  Timing of that article yesterday coincided with aapl really tanking, more so that the other horsemen, later in the day yesterday. Think he’s working to help anyone set up for RIMM’s earning’s report tomorrow?

[quote author=“TanToday”]Running some numbers here;

Apple is now 9:36AM at $126.90.

Back out the $22 bucks in CASH EQUIVALENTS the have in the piggy bank over in Nevada.

Take the $105 remaining and divide by the EPS that is going to come in around $6/sh and you get a PE ratio of about 17X TTM for the firm less the retained savings.

Now take Gene Munster’s 2009 earnings estimate of 9.17/sh, and calculate a forward PE nearing the single digits. Is the Street pricing in Great Depression 2.0 that Cramer is talking about?

Also, how long will CNBC air this epsiode of ‘Deal or No Deal’? 

Hey kids been out of town and missed much of the recent action but have been checking in on my iphone, just not posting.

Just bought another 50 shares @ 127.65

You can all buy now if you want

edit: will be adding another 50 shares if we see anything below $120

[quote author=“Rawkstar9”]Also, how long will CNBC air this epsiode of ‘Deal or No Deal’? 

As long as it takes! Like Kiwi says, the whiny baby gets a cookie if they cry long enough. I’m expecting any short-term rallies to be sold off until they pass this thing.

OT. I think it’s is the mother of all conspiracies to keep my beloved Cubbies from winning the World Series. I envision them being up in 7th game 10-1 and 2 outs in the bottom of the 9th only to have all the lights go out because the U.S.A. can’t pay it’s electric bill.